Medical billing efficiency is all about being thorough and accurate. A significant portion of medical billing consists of patient data and records. Accuracy of the data contained in these records is extremely important when the DME/HME is billing the insurance company.
If records are incomplete, the DME/HME will experience delays in payment, or non-payment/denials by the insurance company. Data accuracy helps insurance claim processing, and ensures on-time payments.
Typically, DME/HME businesses receive payment after successful insurance claim processing. Claim processing can be smooth and hassle-free if the paperwork is error free. However, inaccurate or missing medical data result in claim delays and denials. A Becker’s Hospital review reports that hospitals and vendors add extra workforce to resolve claim issues, often without much success. Adding staff does not directly address the issue of lack of data accuracy in medical billing.
Data accuracy lapses: Critical areas to address
Data accuracy begins the moment a DME/HME business registers a patient. If done manually, some areas are prone to errors from the beginning. Typically, in a small DME/HME, the medical staff is inundated with patient demands. In an environment of multi-tasking and urgency, it is easy to misplace paper records or miss recording significant medical information.
Processing errors due to multitasking by staff
As the business grows, so does the volume of records. If the staff is overwhelmed with increased demand, data entry and processing can be compromised. This causes increase in denials and results in increased long term AR.
Addressing it: Dedicated staff focused and trained on data entry ensures error-free data processing of patient orders. There are no distractions because the team only focuses on intakes, leading to increased collections, and decreased AR.
Lack of trained and compliant staff
For the data to be accurate, the staff needs to be continually trained regarding the latest mandates set by insurance companies. Attention to detail is a required attribute of any trained staff. Attrition, retention, hiring, and training are common issues faced by most DMEs/HMEs. Frequent hiring and training of new employees is a budget intensive activity which costs time and money.
Addressing it: Professional medical billing service providers take on the responsibility of training staff. This alleviates the burden of having to hire and train our own staff and ensures error-free record-keeping from beginning to end. Your internal staff will have adequate time to concentrate on patient care and retention. Professional billing also ensures compliance in storage, retrieval, and access to patient data.